We at Legal Insurrection
have documented the damage Obamacare
has done to the insurance market, with
costs skyrocketing to the point that companies have
pulled out. If they cannot make a profit they cannot provide coverage.
For the last few weeks, Iowa's individual health insurance market showed signs of collapse as companies pulled out one after another. The state started to panic, even
asking "the federal government to let it alter parts of the Affordable Care Act in an effort to entice insurers into selling plans in the state."
The small insurance company Medica has come to save Iowa after the company's officials decided to remain in the state, making it the only company in the market. But officials said it has to charge higher premiums in order to stay afloat.